Technology Trends & Talent Takeaways Across the Globe: Part One

In this three-part series, DHR’s Global Technology Leaders located across the Asia Pacific (APAC), Europe and North America speak to the trends business leaders need to know and what they mean from a talent perspective – including attracting and retaining top talent – to help organizations reach their objectives in 2023:

  • North America: Sal DiFranco, Managing Partner, Global Advanced Technology
  • APAC: Mike Lim, Managing Partner, China
  • Europe: Frank Smeekes, Managing Partner, Europe

North America: Leadership Enhancements at Private Equity-Backed Software Companies

What should business leaders know?

“There have been significant changes at the CEO level in private equity-backed software and SaaS companies over the last year. This has created a trend of CEOs enhancing their teams to elevate the performance of the business in providing better products, services and solutions to their customers.”

What does this mean for talent?

“This will increase the demand for C-suite leaders as well as their direct reports across multiple functional areas. With economic changes, private equity firms are seeing that some of their businesses were propelled more by the economic boom, and now with tightened market conditions, it is more important than ever to ensure they have the appropriate leadership in place, so their companies are ‘operationally tight’ and building sustainable growth. Investment firms are still open to deploying capital, which includes capital for talent, in these businesses. And, while their deal flow may slow down, the need for top talent in the current market will increase to ensure their goals are met.”

Sal DiFranco

Managing Partner, Global Advanced Technology

Sal serves as Managing Partner of the Global Advanced Technology and Technology Officer Practices specializing in cloud, digital transformation, IoT, data & analytics and software & applications including SaaS. He specializes in C-level technology searches across all practices, with a focus on industrial technology, fintech, healthcare IT, consumer & retail and professional services.

APAC: Growing Demand for ESG Reveals a Talent Shortage

What should business leaders know?

“While environmental, social and corporate governance (ESG) may mean different things in different countries and different companies, there’s growing demand from the public for companies to be more responsible and accountable to society across the board. DHR’s 2022 research report found that the demand for Chief Sustainability Officers in APAC lags Europe and North America, where these roles were firmly entrenched in the C-suite. However, the expectations of investors, corporations and consumers across Asia, combined with stock exchange and government regulatory requirements, have led to a surge in demand for ESG expertise. At the same time, a shortage of qualified ESG talent is hindering Asian institutional investors, according to a report by HSBC.”

What does this mean for talent?

“Based on our studies, ESG-related talent in Asia is still in its infancy. The number of ESG executives in Asia is small, and their tenure of experience is shorter than in North America and Europe. Companies should consider building up an ESG team sooner rather than later in order to compete for the limited ESG talent available and keep pace with rising demand to deliver on ESG requirements.”

Mike Lim

Managing Partner, China

Mike serves as Managing Partner of China and Leader of the Professional Services & Advanced Technology Practice for Asia Pacific. He is based in the firm’s Beijing office and a member of the APAC Executive Committee.

Europe: European Payment Companies Taking the Lead

What should business leaders know?

“European payment companies are making significant strides in the industry. One key advantage is the favorable regulatory environment, with Europe’s robust data protection laws and regulations providing greater security for consumers. DHR considers London and Amsterdam the hotspots for talent for the EU FinTech industry. Additionally, many European payment providers are focused on reducing payment friction, such as by developing instant payment solutions or streamlining cross-border transactions. With the rapid growth of e-commerce and mobile payments, European payment companies are ideally positioned to capitalize on the rising demand for faster and more secure payment solutions.”

What does this mean for talent?

“European payment system companies should adopt a strategic approach to hiring, attracting and retaining talent. Some strategies include providing competitive compensation, development opportunities, flexible work arrangements, employee engagement programs and employee well-being programs. It’s also important to prioritize social responsibility, DE&I and transparent communication. Employer branding helps to showcase what organizations are offering and builds a positive image. DHR Europe has seen that by implementing these strategies, European payment system companies can create an engaging workplace that attracts and retains top talent, enabling them to stay competitive and drive innovation in the industry.”

Frank Smeekes

Managing Partner, Europe

Based in Amsterdam, Frank serves as a Managing Partner in Europe and is a member of the board of directors. His assignments are mostly in the technology, professional services and industrial spaces.

Stay Tuned for More Global Talent Insights

As talent advisors, our global technology consultants provide insights for leaders to move forward in this ever-changing environment. Watch for Parts Two and Three of our Technology Trends and Talent Takeaways series for an insider’s look at the key trends happening around the globe and their talent implications.

Contact us to discuss how any of these trends are affecting your business and our recommendations for engaging top technology talent in 2023.

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